Wolff Wiese Magana LLC Has $1.82 Million Stake in Crown Castle Inc. (NYSE:CCI)

Wolff Wiese Magana LLC grew its holdings in shares of Crown Castle Inc. (NYSE:CCIGet Rating) by 6.5% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,819 shares of the real estate investment trust’s stock after buying an additional 664 shares during the quarter. Crown Castle makes up 1.3% of Wolff Wiese Magana LLC’s portfolio, making the stock its 17th largest position. Wolff Wiese Magana LLC’s holdings in Crown Castle were worth $1,821,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of CCI. North Star Investment Management Corp. bought a new stake in shares of Crown Castle during the 1st quarter worth approximately $25,000. IAG Wealth Partners LLC lifted its position in shares of Crown Castle by 277.8% during the fourth quarter. IAG Wealth Partners LLC now owns 136 shares of the real estate investment trust’s stock valued at $28,000 after purchasing an additional 100 shares in the last quarter. HHM Wealth Advisors LLC bought a new stake in Crown Castle in the first quarter worth about $28,000. Blume Capital Management Inc. purchased a new position in shares of Crown Castle in the first quarter worth about $29,000. Finally, HWG Holdings LP purchased a new position in Crown Castle during the fourth quarter valued at approximately $34,000. 90.77% of the stock is currently owned by institutional investors and hedge funds.

Crown Castle Price Performance

NYSE CCI traded down $4.74 on Friday, reaching $152.35. 35,924 shares of the stock traded hands, compared to its average volume of 1,522,822. The firm’s fifty day simple moving average is $173.71 and its 200 day simple moving average is $177.62. The company has a quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 2.70. The company has a market cap of $65.97 billion, a price-to-earnings ratio of 43.54 and a beta of 0.60. Crown Castle Inc. has a 12 month low of $153.70 and a 12 month high of $209.87.

Crown Castle (NYSE:CCIGet Rating) last announced its quarterly earnings data on Wednesday, July 20th. The real estate investment trust reported $0.97 EPS for the quarter, missing analysts’ consensus estimates of $1.71 by ($0.74). The company had revenue of $1.73 billion for the quarter, compared to analyst estimates of $1.71 billion. Crown Castle had a net margin of 22.91% and a return on equity of 18.93%. Crown Castle’s revenue was up 9.5% on a year-over-year basis. During the same quarter last year, the company posted $1.71 EPS. As a group, research analysts predict that Crown Castle Inc. will post 7.04 EPS for the current fiscal year.

Crown Castle Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 30th. Stockholders of record on Thursday, September 15th will be issued a $1.47 dividend. The ex-dividend date of this dividend is Wednesday, September 14th. This represents a $5.88 dividend on an annualized basis and a dividend yield of 3.86%. Crown Castle’s payout ratio is currently 165.17%.

Insider Activity

In other Crown Castle news, Director Kevin A. Stephens bought 699 shares of Crown Castle stock in a transaction dated Friday, July 22nd. The stock was bought at an average price of $173.60 per share, for a total transaction of $121,346.40. Following the completion of the acquisition, the director now directly owns 10,703 shares of the company’s stock, valued at $1,858,040.80. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 0.47% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently commented on CCI. Deutsche Bank Aktiengesellschaft upped their price target on shares of Crown Castle from $183.00 to $185.00 in a report on Friday, July 22nd. KeyCorp lowered their price objective on shares of Crown Castle from $219.00 to $205.00 and set an “overweight” rating on the stock in a research note on Friday, July 1st. Credit Suisse Group reduced their target price on shares of Crown Castle to $213.00 in a report on Friday, July 22nd. Jefferies Financial Group raised shares of Crown Castle from a “hold” rating to a “buy” rating and raised their target price for the company from $191.00 to $200.00 in a report on Thursday, June 30th. Finally, Raymond James lowered their price target on Crown Castle from $206.00 to $201.00 in a research report on Friday, July 22nd. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $195.20.

Crown Castle Profile

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Crown Castle owns, operates and leases more than 40,000 cell towers and approximately 80,000 route miles of fiber supporting small cells and fiber solutions across every major U.S. market. This nationwide portfolio of communications infrastructure connects cities and communities to essential data, technology and wireless service – bringing information, ideas and innovations to the people and businesses that need them.

Further Reading

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Institutional Ownership by Quarter for Crown Castle (NYSE:CCI)

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